Barclays lowered the firm’s price target on Valaris (VAL) to $61 from $91 and keeps an Overweight rating on the shares. The firm believes 2025 will be a challenging year for the offshore drillers given the “air pocket of demand” against the number of rigs coming off contract. It lowered dayrate and contracting assumptions as well as price targets in the group.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VAL: